Half-year revenue and operating profit up at Anglian Water

Anglian Water has reported a 5.5% year on year lift in operating profit to £230.5m for the six months to 30 September 2022 on revenue up 8.9% at £790m.

The company said its “proactive energy hedging policy” shielded it from “significant inflationary effects across most input costs” to drive its £12m increase in operating income. Increased net interest including indexation totalled £376.5m – up £152m. This was more than offset by a £664m fair value gain on derivatives compared with a £92m loss in the same period of the previous year to generate a profit before tax of £517m up from a half year pre-tax loss of £100m in 2021.